bankruptcy and iimpact on credit

I understand that the bankruptcy stays on your credit bureau for 7 years. Is that 7 years from the date of discharge or 7 years from the date of filing for bankruptcy?

Posted on Friday, June 5, 2009 | Filed under: Bankruptcy
 posted by Questions @ 7:52 am 1 Comment
1 Expert Comment:

 At June 30, 2009 | 7:32 am , Bart Goth, Trustee in Bankruptcy Said...

The impact on your credit as a result of filing for bankruptcy is that you will have an R9 listed with the credit bureau for 6 years from the date that you are discharged. This is the maximum time that the R9 will be registered as long as we are talking about a first time bankruptcy, multiple bankruptcies are a different story.

It is also important to recognize that this is worst case scenario, with a little effort it is possible to repair your credit significantly quicker than this, although it does take a little bit of effort on your part.

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